Meredith, Koch brothers buy Time Inc.

US media group Meredith, backed by conservative billionaires Koch brothers, has agreed to buy Time Inc. for $2.8 billion as the publisher of Fortune, People, and Sports Illustrated magazines struggles with an industry-wide decline in print media. Also, we take a sneak peek at China's $1.5 billion new virtual reality theme park which is being built in one of the country's poorest regions.